AEA unveils first-quarter 2023 avionics market report

The Aircraft Electronics Association released its first-quarter 2023 Avionics Market Report. In the first three months of the year, total worldwide business and general aviation avionics sales amounted to $777,640,387.48, or more than $777 million as reported by the participating companies.

First three months of 2023 worldwide business and general aviation avionics sales

Quarter

Retrofit

Forward-fit

Total Sales

1Q 2023

$309,902,153.36

$467,738,234.12

$777,640,387.48

The figure represented a 22.6% increase in total sales compared to the first-quarter 2022 amount of $634,546,020.43, or more than $634 million. This increase was driven by a 32.1% increase in forward-fit sales compared to the same time frame one year ago.

However, first-quarter sales decreased 2.1% sequentially from the fourth quarter of 2022, snapping a streak of 10 consecutive quarters of increasing sales.

First Three Months of Worldwide Business & General Aviation Avionics Sales

2022

2023

% Change

Retrofit

$280,369,625.35

$309,902,153.36

10.5%

Forward-fit

$354,176,395.08

$467,738,234.12

32.1%

YTD

$634,546,020.43

$777,640,387.48

22.6%

The dollar amount reported (using net sales price, not manufacturer's suggested retail price) includes: all business and general aviation aircraft electronic sales – including all component and accessories in cockpit/cabin/software upgrades/portables/certified and noncertified aircraft electronics; all hardware (tip to tail); batteries; and chargeable product upgrades from the participating manufacturers. The amount does not include repairs and overhauls, extended warranty or subscription services.

Of the more than $777 million in first-quarter 2023 sales, 39.9% came from the retrofit market (avionics equipment installed after original production), while forward-fit sales (avionics equipment installed by airframe manufacturers during original production) amounted to 60.1% of first-quarter sales.

According to the companies that separated their total sales figures between North America (U.S. and Canada) and other international markets, 74.5% of the first-quarter sales volume occurred in North America (U.S. and Canada), while 25.5% took place in other international markets.

2023 percentage of total sales by market

Quarter

Retrofit

Forward-fit

1Q 2023

39.9%

60.1%

2023 percentage of total sales worldwide

Quarter

U.S./Canada

Other International

1Q 2023

74.5%

25.5%

All dollar amounts noted are U.S. dollars. The number of companies that participate in the AEA Avionics Market Report may change on a quarterly and/or annual basis. This may occur due to mergers and acquisitions during the year along with new companies participating in the reporting process. Any comparative analysis of the data should take this variance into consideration.

The AEA Avionics Market Report should not be considered a predictive indicator of future industry sales activity. The circumstances discussed in the report may not occur in future time periods, and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting the AEA Avionics Market Report and the companies that participate in the report. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made, and the Aircraft Electronics Association, along with the participating companies in the AEA Avionics Market Report, undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

"This quarterly report offers mixed results, as the industry posted a lower dollar amount in sales when compared to the fourth quarter of last year, while at the same time reporting an increase in sales of more than 22% compared to the first three months of 2022," said AEA President and CEO Mike Adamson. "Also of note, the industry garnered the largest forward-fit sales volume in the history of the report with more than $467 million in avionics sales to OEMs. It is only the second time that quarterly sales have topped $400 million in that category."

Below is a review of the year-end totals for the 11-year history of the AEA Avionics Market Report. Participating companies began separating total sales into retrofit/forward-fit sales in 2013.

Yearly Totals

Year

Retrofit

Forward-fit

Total Sales

% Change From
Previous Year

2022

$1,385,636,432.00

$1,491,644,876.00

$2,877,281,308.00

+21.5%

2021

$1,291,830,350.00

$1,075,761,854.00

$2,367,592,204.00

+6.5%

2020

$1,242,782,844.00

$980,946,483.00

$2,223,729,327.00

-26.0%

2019

$1,657,413,394.00

$1,348,426,111.00

$3,005,839,505.00

+10.2%

2018

$1,556,360,964.00

$1,172,296,145.00

$2,728,657,109.00

+17.3%

2017

$1,342,516,992.84

$984,335,543.95

$2,326,852,536.79

+2.9%

2016

$1,117,656,848.00

$1,143,877,972.00

$2,261,534,820.00

-6.4%

2015

$1,187,389,485.21

$1,229,049,502.21

$2,416,438,987.42

-4.4%

2014

$1,228,201,491.23

$1,299,365,811.19

$2,527,567,302.42

+4.0%

2013

$1,114,263,226.00

$1,315,035,458.50

$2,429,298,684.50

+9.0%

2012

N/A

N/A

$2,229,317,197.54

N/A